westshore TOWNHOME - JULY 2 0 2 4
MONTHS OF INVENTORY 4.0 SELLERS' MARKET
▶ MARKET SUMMARY
AVERAGE PRICE
AVERAGE PSF PRICE ▼ 0.3% VS 2023
MEDIAN PRICE
TOTAL LISTINGS
SALES
▲ 35% VS 2023
▼ 3% VS 2023
▼ 0.2% VS 2023
▼ 4% VS 2023
There were 109 townhome listings in the Westshore in July, 5% below June and 35% higher than July 2023.
July townhome sales decreased by 21% month-over-month, to 27, and were 4% below July 2023.
THIS MONTH No.
PREVIOUS MONTH
PREVIOUS YEAR
No.
% Change
No.
% Change
The months of inventory for townhomes in the Westshore, at 4.0, reflected a sellers' market.
TOTAL LISTINGS TOTAL SALES MONTHS OF INVENTORY MEDIAN SOLD PRICE AVERAGE SOLD PRICE AVERAGE PRICE PSF
$502 $744,359 $745,000 4.0 27 109
28 81
-0.3% -3% -0.2% 40% -4% 35%
$456 $737,411 $729,625 3.4 34 115
10% 0.9% 2% 19% -21% -5%
The townhome median price in July was $745,000, a 2% increase from June and 0.2% below July 2023. The average sold price was $744,359, 0.9% above last month; the average PSF sale price was $502, up 10% to last month.
$503 $770,448 $746,275 2.9
▶ MEDIAN DAYS ON MARKET
▶ RECENT TRENDS
● SALES ● TOTAL INVENTORY ● MEDIAN PRICE
34
122
120
103
102
109
115
99
111
94
90
81
87
26
84
26
44
34
31
28
36
27
34
11
23
22
15
14
13
$790K
$772K
$761K
$746K
$738K
$745K
$741K
$745K
$732K
$730K
$725K
$725K
$685K
Jul-23
Jun-24
Jul-24
▶ NUMBER OF BEDROOMS
▶ TOTAL LISTINGS & SALES BY PRICE RANGE
SELLERS' MARKET < 5
BALANCED 5 - 8
BUYERS' MARKET 8+
● SALES ● TOTAL INVENTORY
● SALES ● TOTAL INVENTORY ● MONTHS OF INV.
40
4
10.0
4+ bdrms
19
30
19
3 bdrms
64
20
4.9
4.3
4.2
4.0
2
2 bdrms
10
24
1.2
0
2 2
<2 bdrms
<$600K $600K-699K $700K-799K $800K-899K $900K-999K $1.0M-1.24M $1.25M-1.49M $1.5M + MOI INVENTORY SALES 1 10 10.0 3 13 4.3 5 6 1.2 6 25 4.2 8 39 4.9 4 16 4.0
Copyright © 2024 rennie group of companies. All rights reserved. This material may not be reproduced or distributed, in whole or in part, without the prior written permission of the rennie group of companies. Current as of August 6, 2024. All data from Victoria Real Estate Board & Rennie. While the information and data contained herein has been obtained from sources deemed reliable, accuracy cannot be guaranteed. rennie group of companies does not assume responsibility or liability for any inaccuracies. The recipient of the information should take steps as the recipient may deem necessary to verify the information prior to placing any reliance upon the information. The information contained within this report should not be used as an opinion of value, such opinions should and can be obtained from a rennie and associates advisor. All information is subject to change and any property may be withdrawn from the market at any time without notice or obligation to the recipient from rennie group of companies. E.&O.E. 12 ●
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